Hi there and good afternoon! That's exactly the reason why those...

Hi there and good afternoon!

That's exactly the reason why those s*ckers will not get any dime from me any longer. No income, no cash flow, no production, no proven reserves in serious quantities, promising acreage only, most of it was given away, but huge wages for the management.

I have junior oil & gas explorers in my portfolio where management holds far more shares of the company they are working for and/ or where management earns far less than this crowd, because they know they are burning their own money (and these companies have promising acreages with billion of barrels potential as well as several farm-out deals achived, too).

However WHL's management is burning shareholder's money only and this will go one and one as long as nobody starts kicking a**es at the annual general meeting.

I have no problem with headwinds in this business like delays, dusters, shortage of money, capital raisings etc. - definitely high risk , maybe high reward sooner or later - but it p*sses me off, when management behaves like beeing a major already (lock at the layout of the ridiculous annual report for example, don't want to know what this costs, others publish 30 to 50 simple pages with a few pics - content rules), while they have no single cent of positive cash-flow.

That's why I will not participate in the next cr, instead I will wait to average down till after the re-split, when the sp will tank further more as it most of the time does after re-splits and then I will check-out as soon as I am even.

Cheers and have a good evening,
hope dies last ;-)
Neo